#BITCOIN / What is the next move?

6 Tem 2024

Bitcoin has hit the bottom of the daily BEARISH channel
As a result, we tend to fall for now
to the targets of:
Target 1: 54227.81
Target 2: 50795.32-51826.84

It may have temporary growths before falling.
These growths are good opportunities to catch the drop in higher prices.

Among the important resistance levels of #bitcoin in case of growth, we can mention the midline of the BEARISH channel of the daily time-frame, the HIGH of the channel and finally the resistance range of 61514.60-64390.34!!

Important note: the downtrend will change to uptrend only if it stabilizes above the resistance range of 61514.60-64390.34.
If that happens, I will talk about IT,S targets

7 Tem 2024

Not

The fall that occurred today in #Bitcoin is due to hitting the bottom of the larger BEARISH channel

Is there a possibility that #BITCOIN will make a HIGH and fall from the LOW of this BEARISH channel or the smaller BEARISH channel Mid-line?

7 Tem 2024

Not

The key to the previous question lies in the 1-hour time-frame
As long as we are below the BEARISH trend-line of the 1-hour time-frame, it has a chance to make a HIGH and fall based on the view of a higher time-frame.
with the targets of:
Target 1: 55115.75
Target 2: 53481.23
Target 3: 50795.32

But if, contrary to our opinion, the downtrend line of the one-hour time-frame is broken upwards, #Bitcoin can grow temporarily!!
to the targets of:
Target 1: 61514.60
Target 2: 64390.34

8 Tem 2024

Not

The first drop target was achieved based on the latest update


Pay attention to the area marked by the green arrow in the photo above
Let me tell you the educational point in the next picture:

Head and shoulder channel and SELL signal:
After a DROP, where you are likely to have a head and shoulders pattern, draw the head and shoulders channel as shown, the break of the bottom of the channel will give us a SELL signal. With a STOP-loss above the HIGH before the break!!